East African supply chain startup Twiga Foods eyes expansion into East and West African markets and some other parts of the African continent. The startup is also considering venturing into Nigeria, Ghana, Rwanda,and Tanzania.
The startup’s Chief Growth Officer, Stephen Ananda ascribes the expansion to the need to access low-cost but high-quality food products across cities in Africa.
Twiga Foods is already in operation in Embu, Kirinyaga, Uasin Gishu, Kiambu, and Machakos, counties. The startup recently unveiled plans to launch soon in Nakuru County, which is a clear indication of its growth presence outside Nairobi.
Twiga Foods runs a mobile platform into sale of fruits and other small scale farm products to vendors. Dealing in farm produce, the company has raised billion of shillings in loans and equity deals from foreign investors among which is the International Finance Corporation (an arm of the World Bank), to the tune of $30 million with Goldman Sachs leading the lenders and investors.
The company’s model is based on giving farmers higher prices for their produce while delivering the commodities to consumers within 24 hour timeline.
It currently houses an excess of 13,000 farmers and 6,000 vendors who pay above 20 to 40 percent than the farmers and brokerage groups and ensure payment within 24 hours via mobile transactions. This ensures farmers benefit from predictable income streams and sound financial planning.
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